Honouring real estate developers who are relentless in their pursuit to be socially and environmentally responsible
For our 15th prosperous year in the business, the PropertyGuru Asia Property Awards team is delighted to announce a new Special Recognition for ESG accolade to honour real estate developers who strive to be socially and environmentally responsible in their day-to-day processes.
ESG, which stands for Environmental, Social and Governance, is defined by Market Business News as “a subset of non-financial performance indicators that include ethical, sustainable and corporate government issues.”
This means that businesses in compliance with these ESG principles ensure that they properly manage their people, operate in an ethical manner and reduce their carbon footprint — and these are the real estate developers that we want to grant this new award to. However, this is not the first time that we will honour developers who practice ESG.
“The independent judging panels for the PropertyGuru Asia Property Awards have been recognising developers for their sustainable projects and ESG-related activities for several years through awards, such as Best Green Development and Special Recognition in CSR,” explained Jules Kay, managing director of PropertyGuru Asia Property Awards.
“In our 15th year as the region’s leading property awards series, we intend to honour developers who strive to adhere to core ESG principles, such as responsible corporate management, sustainable development and protection of human rights,” he added.
The introduction of the new Special Recognition in ESG award is supported by the industry, including Baan Dek Foundation (BDF) whose primary mission is to give all vulnerable children access to education, health and safety services.
Moreover, they have been working with real estate development firms and construction companies to raise awareness on the importance of ESG for over eight years.
Nicola Crosta, founder of Baan Dek Foundation, said that they have been providing industry leaders with “the information (including incentives), actionable recommendations and ready-to-use tools needed to support the sector.”
When asked why is it so crucial for the real estate industry to establish ESG practices, he had this to say: “Property developers have a visible role in shaping our cities and societies. Construction work can affect communities positively or negatively both in terms of environmental and social impact.”
“Property developers and construction companies need to take responsibility in a context of progressively more educated and socially conscious customers and general public. They have the opportunity to act directly on social and environmental issues by adhering to good practices themselves and exerting a positive influence on the practices of contractors.”
During these unprecedented times, when the entire country is struggling to deal with the impact of the COVID-19 pandemic, he said that developers who practice ESG principles have already designated funds to provide protective healthcare equipment not only in worksites, but also in worker camps.
“Having a social conscience for workers and local communities will not just keep the company strong and productive, but it invites the opportunity to build brand value and positive engagement with the consumer,” he concluded.
Know of any sustainable or award-worthy projects in the Asia Pacific region? Nominate them for the 2020 PropertyGuru Asia Property Awards! Simply visit asiapropertyawards.com/awards for key dates and details.
Watch: 8th PropertyGuru Philippines Property Awards virtual gala
Philippines’ crème de la crème of the real estate sector to be honoured at the first virtual edition of the gala, to be livestreamed on 13 November 2020
Pandemic unmasks fundamental challenges in Myanmar market
Sluggish sales of upscale projects are forcing a shift in the country’s real estate sector, with developers forced to better tailor product to the needs of the market
Uncontrollable soaring property values in South Korea leaves re-elected government reeling
Industry experts reveal that elevated property values make foreign buyer restrictions and property taxes inevitable
South Asian nations cautiously optimistic amid post-pandemic recovery
Competing factors ranging from political instability to ill-fated reforms may have adversely affected property markets